Edgar accumulated $ 2 , 0 0 0 in credit card debt. If the interest rate is

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Edgar accumulated $

2, 000

in credit card debt. If the interest rate is

40 %

per year and he does not make any payments for

5

years, how much will he owe on this debt in

5

years for quarterly compounding? Round your answer to the nearest cent.

Related Book For answer-question

Fundamentals of Corporate Finance

ISBN: 978-0077861629

8th edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus

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Posted Date: Mar 19, 2024 05:22 AM

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Edgar accumulated $ 2 , 0 0 0 in credit card debt. If the interest rate is

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Fundamentals of Corporate Finance

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